Nxu Announces CFO Transition
05 Dezember 2023 - 3:00PM
Nxu Inc., (NASDAQ: NXU) (“Nxu”, “the Company”), a domestic
technology company developing and manufacturing innovative EV
charging and energy storage solutions for the infrastructure we
need to power our electrified future, announced that it has
accepted the resignation of Apoorv Dwivedi, its Chief Financial
Officer, who will be pursuing other opportunities. Nxu has
appointed Sarah Wyant, its current Vice President of Finance, as
Interim Chief Financial Officer. Dwivedi will continue to support
the company in an advisory capacity as needed through the first
quarter of 2024.
“Nxu has built a strong bench of talent on the finance team,
with deep experience in public company operations and capital
markets expertise. Sarah has been critical to building out
financial rigor within Nxu since she joined us earlier this year,
and she has a strong understanding of our business strategy and
long-term plans,” said Mark Hanchett, Chairman and CEO at Nxu. “I’m
confident in her leadership and look forward to continue advancing
Nxu’s mission alongside her.”
“I am sincerely grateful for the opportunity to have been part
of this incredible journey, working alongside a dedicated team and
witnessing the growth of our company,” said Dwivedi. “As I continue
to partner with Sarah and her team on this seamless transition
throughout the first quarter of next year, I am confident in the
future of Nxu. The company boasts a remarkable product that
addresses a critical gap in the electrification industry,
contributing to the sustainable future of transportation. With a
clear, strategic path forward, I have full confidence in the
talented team that will continue to drive Nxu toward even greater
success.”
“First, I want to thank Apoorv for his leadership and vote of
confidence as we enter this transition. Building on the strong
foundation of continuous improvement and collaboration I worked to
establish in our internal financial operations, we will continue to
create value for our shareholders, capitalizing on the momentum Nxu
has generated in recent months,” said Wyant. “With our impressive
financial team helping to lead the way, we have an exciting future
ahead and I'm proud to be in the position to contribute so
significantly during this time.”
Wyant joined Nxu in May of 2023 and has driven critical process
creation and improvement across FP&A, tax, audit, accounting,
stock-based compensation, and procurement functions. Wyant brings
almost 20 years of experience in corporate accounting and finance,
cross-functional team leadership, and business strategy to Nxu.
Prior to joining Nxu, she served as Associate Director of
Accounting and Financial Planning & Analysis for Carvana, a
publicly traded Fortune 500 automotive e-commerce company. At
Carvana, Wyant worked to build the corporate accounting function
from the ground up, implementing processes and systems while hiring
teams of strong contributors who believed in the organization’s
business mission. She crafted the organization's financial strategy
within its retail business function, where she oversaw the unit’s
financial operations and drove enterprise-wide change with her
tactical and progressive approach to achieving operational change
and financial impact. Prior to her career at Carvana, Wyant worked
in public practice as Audit Manager at Eide Bailly LLP in Phoenix
and Audit Supervisor at BKD CPAs & Advisors in Denver. Wyant
holds a CPA designation in both Arizona and Colorado.
About Nxu, Inc.
Nxu, Inc. is a domestic technology company leveraging its
intellectual property and innovations to support e-Mobility and
energy storage solutions. Driving the energy future, Nxu is
developing an ecosystem of industry-leading grid level energy
storage solutions, charging infrastructure and over-air cloud
management – encompassed by Nxu’s seamless subscription-based
models. For more information, visit www.nxuenergy.com.
Forward-Looking Statements This press release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, including, but
not limited to, statements regarding our future areas of focus and
expectations for our business. These forward-looking statements are
based on our current assumptions, expectations and beliefs and
involve substantial risks and uncertainties that may cause results,
performance or achievements to materially differ from those
expressed or implied by these forward-looking statements. Such
forward-looking statements include statements regarding, among
other things, Nxu’s expectations about its long term growth
strategy, future growth trajectory, revenue and operations; Nxu’s
technology and alignment with broader trends in the EV market;
opportunities presented by electrification; beliefs about the
general strength, weakness or health of Nxu’s business; and beliefs
about current or future trends in EV battery materials or other
markets and the impact of these trends on Nxu’s business. A
detailed discussion of these factors and other risks that affect
our business is included in filings we make with the Securities and
Exchange Commission (SEC) from time to time, including our most
recent report on Form 10-K, particularly under the heading “Risk
Factors.” Copies of these filings are available online from the SEC
or on the SEC Filings section of our Investor Relations website at
www.nxuenergy.com. All forward-looking statements in this press
release are based on information currently available to us, and we
assume no obligation to update these forward-looking statements in
light of new information or future events.
CONTACT: Media
Contactinfo@nxuenergy.com
Investor
Contact Investors@nxuenergy.com
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